Lamb price falls despite drop in supplies
The price of lambs on liveweight markets declined in the week ending 14 September, despite a fall in supplies as demand has begun to return to normal levels, according to AHDB Beef & Lamb.
In the week ended 14 September the GB Standard Quality Quotation (SQQ) was down by 4p on the previous week at 179.6p/kg. This left prices 28p higher than the same period in 2015. Prices have been falling despite a decline in the number of throughputs at auction markets.
This is due to demand for lamb falling to more normal levels following the Love Lamb Week marketing campaign and the Muslim Festival of Eid al Adha, which led to higher demand in the previous week. The largest weekly falls were seen towards the end of the period, with the GB SQQ on 14 September down by 7p on the week at 174.3p/kg.
Supplies during the week declined by 22% compared to the previous week and were 9% lower than the same period a year ago. This follows a drop off in lambs marketed especially for the Eid trade seen in the previous week.
Deadweight prices in the week ended 10 September rose by 3p compared to the previous week at 407.9p/kg. That followed the two weeks of price falls and was due to increased demand for Love Lamb Week and Eid al Adha, AHDB Beef & Lamb said. That left prices 54p higher than the same period in 2015. Estimated slaughterings during the week were up by 28% compared to the previous week and were 7% higher than the previous year.
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